10. JPMorgan

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 318 (to date)

2007: 314

2006: 244

100% of internships are paid, 0% are unpaid.

2007 interns came from the following classes...

1% Freshman

12% Sophomores

86% Juniors

1% Seniors

...and from the following majors:

43% Business

1% Computer Science

27% Economics

8% Engineering

9% Liberal Arts

6% Math

6% Science

0% Undeclared

0%

There is an official summer internship program

Average summer program: 10* weeks

Minimum: NA weeks

Maximum: NA weeks

Average hourly wage: $28.85

Average total intern compensation: $14,288*

80% of eligible 2007 interns received full-time job offers

90% of interns with offers accepted

Notes: Internship length rarely varies.

The average total compensation is an estimate that includes weekly salary of $1,154, a one-time housing allowance of $2,000, and estimated reimbursement for round-trip travel costs, which vary widely.

Applicants & New Hires

Recruited on 45* undergrad campuses in 2007-08.
Made job offers on 45 undergrad campuses.

Applicants for entry-level jobs

2008: 9,118 (to date)

2007: 7,137

2006: 7,825

Entry-level hiring

Entry-level hiring is complete for 2008.

New hires in:

2008: 300 (to date)

2007: 315

2006: 250

Entry-level hires who were undergrad interns

2008: 90*% (to date)

2007: 50%

2006: 50%

Most important characteristics for new hires:

2 Analytical Skills

3 Communication Skills

1 Leadership Skills

Number of schools where JPMorgan recruited and extended offers does not include those where the company accepted applications from students but did not visit campus.

The goal is to source a majority of full-time hires from the summer intern class. In 2006 & 2007, the percentage of entry-level hires who were former undergraduate interns ranged from 50% to 90% based on program.

JPMorgan values leadership, analytical, and communication skills equally along with other traits.

2007 entry-level hires came from the following majors:

46% Business

0% Computer Science

24% Economics

10% Engineering

10% Liberal Arts

5% Math

5% Science

0% Undeclared

% Other

...and are:

NA% African American

NA% Hispanic American

NA% Asian American

NA% Other

NA% Total minorities

NA% Female

Salary & Benefits

Entry-level hires since Jan. 1, 2008 (to date)

Average base salary:
$60,000 to $64,999

0% earn less than $35,000

0% earn $35,000 to $39,999

0% earn $40,000 to $44,999

0% earn $45,000 to $49,999

0% earn $50,000 to $54,999

0% earn $55,000 to $59,999

100% earn $60,000 to $64,999

0% earn $65,000 to $69,999

0% earn $70,000 to $74,999

0% earn $75,000 and above

Bonuses, Overtime & Perks

100% received signing bonuses

Average signing bonus: $12,175*

100% received performance bonuses in their first year on job

Average performance bonus, 2007: NA

0% of 2007 entry-level hires eligible for overtime

100% of 2007 entry-level hires not eligible for overtime

Reimburse employees for education expenses? Yes

Do employees become eligible immediately? Yes*

Maximum annual education reimbursement: $7,500*

Full grad school sponsorship for jr. level employees? No

Partial grad school sponsorship for jr. level employees? Yes

Time Off

Total paid vacation days

Vacation days during first year: 20*

Vacation days after one year: 20

Vacation days after three years: 20

Vacation days after five years: 20

Vacation days after 10 years: 20

Total paid holidays: 10

Paid time off for religious observances and/or floating holidays:*

Floating holidays/religious observance days off per year: 22

Paid sick/personal days allowed in first year: 8

Flextime is an option for entry-level employees

Health Benefits

Do entry-level hires have access to health plan? Yes

Employees pay part of the cost? Yes

Does health plan provide dental coverage? Yes

Extra charge for dental coverage? Yes

Does health plan provide vision coverage? Yes

Extra charge for vision coverage? Yes

Are same sex partners permitted as dependents? Yes

Pension and Profit-sharing

Do entry-level hires have access to 401(k)? Entry-level hires are given access to a 401(K) savings plan

Max. company match as a percentage of salary: 5%

Min. employee set-aside as a percentage of salary to receive max. co. match: 5%

Are entry-level hires eligible for company funded pension? Yes

Are entry-level hires eligible for profit-sharing program? No

Other Benefits

Does company match employee charitable gifts? Yes*

Does company pay relocation expenses? No*

Max. annual relocation expenses? NA

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Publications

Concierge service, plus discounts on travel, car purchases (including hybrids), and Apple products.

Notes: Company pays a $10,000 signing bonus to assist with relocation costs plus a $2,500 signing bonus for former interns.

Educational reimbursement is available for high-performing employees undertaking work-related study.

Maximum education reimbursement is for full-time employees with undergraduate degrees.

Vacation days are for exempt employees only and vary with position

Personal or vacation time may be used for religious observances.

The company's charitable match supports hundreds of not-for-profit arts & cultural institutions.

Relocation expenses are paid through the signing bonus.

Work Environment

Average entry-level work week: NA hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

50*% in open work stations

50% in cubicles

0% in shared offices

0% in private offices

0% have no company-supplied work space

Typical dress code

Business Casual

Business

Organization sponsors employee volunteer opportunities*

Does organization have fitness facilities on site? Facilities not available*

Notes: Open work stations refers to trading desks

Socially responsible initiatives for interns/analysts include the Good Venture Case Competition and the Give-It-Away campaign.

Gym discounts available.

Training Programs

The organization has a formal orientation program for new hires

Program length: 35 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

Core technical and professional skills, team building, community service, networking.

NA average spent on training, per new hire, in 2007

There is a formal leadership or management training program that lasts less than a year:

Program Name: Global Analyst to Associate Program*

How do new employees enter the program? Recommended/Sponsored

If not hired directly into program, when are most new hires first considered eligible? Within 3 Years

1*-week training program

After completion of program, what percentage of employees receive a raise? 100%

How much is the typical raise: 15-19.9%

There is not a formal leadership program for entry-level hires that lasts a year or more.

Program Name:

How do new employees enter the program?

If not hired directly into the program, when are most new hires first considered eligible?

Is program rotational?

If so, how many locations or business units does the employee spend time at?

Minimum rotations:

Maximum rotations:

Length of program, in weeks:

Minimum: weeks

Maximum: weeks

After completion, what percentage of employees receive a raise?:

How much is the typical raise:

Does company have formal mentorship program? Yes

100% of entry-level hires participate

NA* days of additional training expected

Notes: Global Analyst to Associate Program facilitates growth to leadership roles.

Program lasts 8 days

Eligible for raise after 1 year

Additional training includes business-specific training.

Getting Ahead

Three-year retention rate: NA%

Five-year retention rate: NA%

How are raises determined?

Performance

When are most entry-level hires eligible for their first raise?

One-year anniversary

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion?

More than 1 year

Evaluations

Frequency of evaluations

Twice a year

Most important characteristics for entry-level hires:

2 Analytical Skills

1 Teamwork

3 Intensity, passion for the role.

Min. tenure in years required for job change: 1

Transfer rules: This is an estimate

Long-Term Prospects

Does position of vice president exist at this organization? Yes

If not, is there a comparable title?

No. of employees who hold VP or similar title: NA

No. of employees with VP or similar title with 20 years plus seniority: NA

Age of youngest employee with VP or similar title: 25

Seniority of youngest employee with VP or similar title in years: NA